The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-06-25
BUSINESS BAROMETER.
GENERAL CONDITION oFBUsINEss.
Recent Commercial Commissions TOnd TO
Disturb TrAde.-DIstrust on tho Stock Ex.
ChRuge..TOmpOrAry SirIngOnCy Of Mo.
nOyRtNsW YOFk,.Wsek's Failures.

New YoRE, June 24,-R. G. Dun 4 Co.,
in their weekly review Of trade, say:
The failure oi the Fidelity Bank, OF Gin
Cinnatl, with such evidence OF rottsnness
and frauds that three officials have been
locked up on criminal charges 10 the na..
ural tIuit of the wheat corner, but it hla
disturbed business during the past week
quite extensively, The prospects that do.
positora may recover nothing, that moro
than eighty other banks which deposited
there will have losses to bear, and tina.
the fraudulent rehypOtheCstion Of Collaler-
ais for loans will entaugls the resources Of
many who had nothing to do with tho
wheat operation, makes the disturbance
felt in many quarters. These events jus..
lily the precautions advised for weeka paat
IN this review with respect TO the probable
failure OF the wheat corner and It's con.
sequences. Withdrawal OF funds from
New York to meet immediate needs at the
West has caused temporary EtringenCgs
here whiChB BpeCulatOra have magnidsd, but
foreign exchanges 30 near tho shipping
point and the supply OF unused funds
abroad Is 80 large that relist would como
quickly II the needs should become ser.
iOus. Moreover large disbursements by
the Treasury in July are close at hand.
In half yearly settlements in the strug.
gle to liquidate enormous speCulatiOns and
in preparation for the summer dulneaF,
however, there may be come pressure for
money during the remaining days Of June.
At nearly all other points money is re.
ported in good supply.
GENERAL BUsINRsS GOOD.
General reports OF business at nearly all
points are highly encouraging, and tho
increasing prospect OF good crops add to
the prevailing confidence. Collections arc
generally lair or good, and the volume OF
business large for the season. The dry
goods trada ia comparatively inactive, 60
usual ut this period, hut considerable
movement after July ! Ia anticipated.
Mems woolOn goods are decidedly dull,
but in dress goods aud Alnnels the trade
ia fair. OOttons are unchanged in the
main, but print cloths are quoted at So %
with large sales. The liquidation in cot
ton proceeds slowly, but prices have de.
Clined 10 for the week,
Wheat has fallen about cents, though
partial corner in June still makes quo.
tations here cents or more above thosa
for July.
Pork products yield a little better,
though still held at Chicago above tbs
leVoI elsewhere.
DIsTRUsT IN STOCKS
In tho stock market liquidation has
been the festure. Distrust OF parties and
securities thought to bo even remotely
connected with tho Cincinnati apecula.
tiou is obvious and there is less conf.
denCe as to the effects Of the Interstate
act. Heavy increase in shipment by lake
and canal is reported, and the enlorCs.
ment Of tho law threatens to stop manu-
featuring and mining at numerous pointe.
Under all the CirCumBtRnoss tho strength
OF the market is surprising, especially
when 1t ls remembered that new seoul.
ties for several hundred millions have
been listed this year.
The corn market waits the outcome Of
the labor contests. Building seems 10
have been checked little, but the preg.
ent demand for iron and steel products
seem better. Other labor contests arc
disappearing.
Real estate at the West is still unugu.
ally active, and though the bloom ID oil
the boom, 30 to speak, no visible reaction
in prices 10 to be expected at present.
The business failures during the last
seven days number for tho United States,
Ill; for Canada, 20; total, 1917, as com.
pared with 2l3 last week, and 1872 the
previous week in the corresponding week
Of last year.